TN textile sector set to grow strong – ITF survey finds

ITF conducted a survey to understand the growth aspirations of TN Textile & Apparel sector in line with the positive trend prevailing in exports market in the post Covid global business environment.

257 members companies with the combined yearly sales turnover of Rs 36000 Cr participated in the survey from manufacturing unit across the value chain which includes Spinning, Semi-integrated, Integrated, Weaving, Apparel, Processing & Home textiles.

30% of the entrepreneurs have mentioned that, they are confident of doubling their current sales in 3 years’ time with a 25% CAGR.

18% of the entrepreneurs mentioned that, they will double their current sales in 4 years with a 20% CAGR.36% of the entrepreneurs have mentioned about achieving the target of doubling yarn sales in 5 years’ time with 15% CAGR.

In total, 76% of the surveyed firms mentioned about doubling the current site of Business in 3 to 5 years with new capex cycle. 58% of the entrepreneurs mentioned the keen willingness of next-generation in taking forward the Business.  16% of companies mentioned (around 40 companies) about their keen interest to explore the IPO option to list their shares in Indian equity markets.